To say that it was less than flattering is an understatement. Read it for yourself if you haven't already:
http://www.nytimes.com/2016/01/24/business/diamond-resorts-accused-of-using-hard-sell-to-push-time-shares.html?_r=0
Five hour high pressure pitches, running a credit card without permission, $30,000 upgrade...it goes on and on. Despicable and unnecessary tactics in my opinion as I've maintained from way back in1999. Even back then I was saying to anyone who would listen (basically no one as I was a peon salesperson) that far more people would own and enjoy timeshare if the industry let it be bought rather than insisting on selling it.
Anyway, back to the article and its aftermath. DRI stock took a 10% hit that day and caused the company to issue an e-mail to its investors. You can read the 8-K form here:
http://services.corporate-ir.net/SEC.Enhanced/SecCapsule.aspx?c=251836&fid=14147615
The part that jumped out at me was this:
We have in place a strict set of sales policies and practices aimed at protecting the consumer that are in-line with industry best practices.
Read that again...I did.
So, I started searching for these "industry best practices." Didn't find much of anything other than the NTOA's Best Practices which I assisted in drafting, However, nothing from the timeshare industry.
I emailed Mr. Acito who issued the 8-K and politely asked him the following:
Would you kindly point me in the right direction as to where
I can find these best practices, where are they published, who else in the timeshare
industry participates in these best practices (if you are aware of them) and
who within the industry developed and standardized these best practices?
No answer to date.
So Mr.Acito at DRI and anyone else so inclined in listen...I'm more than happy to draft Best Practices for the timeshare industry.
Let's start the clock on when someone will take me up on my offer...
